The company was given 90 days to divest the property, and settlement is expected before the June 3 deadline. Ms Wang is revealed as the buyer on a caveat lodged on May 8.

The sale price is not yet disclosed, but the non-waterfront home is widely expected to have transacted for about $41 million to cover the previous $39 million sale and incurred stamp duty.

Mr Xu is the chairman of Evergrande and one of China’s most high-profile businessman. He has an estimated wealth of 42 billion yuan ($8.5 billion) and is ranked by both Hurun and Forbes as China’s 15th richest person.

Ms Wang’s registered address is a three-bedroom apartment on Pyrmont’s Darling Island Road, next to the Fairfax Media building, which she bought it in 2007 for $2,668,000.

The 48-year-old from China’s Fujian province is a director of LL International, of which a minority shareholder is Wai Hou Cheng, whose registered address is a Haymarket apartment owned by Ms Wang. Ms Wang bought the apartment in 1997 for $494,000 and holds it in her former name Nuo Wang Li.

Records show Ms Wang also owns a three-storey mansion in Vaucluse, opposite Strickland House, for which she paid the Hall family $16.6 million in 2008.

At the time The Sydney Morning Herald reported that the Wangs had doorknocked the Hall residence to buy their home. Earlier that same year the Wangs’ friends and business associates, the Zhangs, of Shanghai, had settled on their $17.68 million home in Rose Bay, which they bought from rag trader Ray Pillion.

That mansion on Rose Bay’s Dumaresq Road is owned by Xingmei Zhang, the wife of wealthy shopping mall developer Dai Yongge, chairman and majority shareholder of Renhe Commercial. Their son, Dai Bin, was also appointed to the board of Renhe last year.

The family are associates of Point Piper home owners, Chinese princeling Zeng Wei and his wife Jiang Mei, the latter of whom is also a non-executive director of Renhe, having joined the company in 2002.

Mr Zeng, whose father is China’s former vice-president Zeng Qinghong, and Ms Jiang made headlines of their own in 2008 when they set the former non-waterfront record of $32.4 million for the former mansion Craig-y-Mor.